Commuters use their mobile phones as they wait at a bus stop with an advertisement of Reliance Industries' Jio telecoms unit, in Mumbai, India July 10, 2017. - Reuters
MUMBAI: Reliance Industries launched a low-cost phone with 4G-enabled features on Friday in a bid to woo tens of millions of low-income users to its upstart telecoms venture Jio’s service.
The handset, named JioPhone, will ”effectively cost zero” as buyers will be able to get the device for a one-time refundable security deposit of 1,500 rupees (US$23.32), Reliance chairman, billionaire Mukesh Ambani, said, announcing the launch at the petrochemicals-to-retail conglomerate’s AGM.
The launch was widely anticipated as Ambani, India’s richest man, uses the company’s annual meeting to make key launch announcements that have in the past disrupted sectors. - Reuters
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